New order

Mumbai, May 8: Glenmark Pharmaceuticals Ltd has signed a supply and marketing agreement with Aspen Inc for joint manufacturing and marketing of three generic pharmaceutical products in the US. These products, which target the pain management therapeutic segment, have a cumulative market size of about $44 million.

Under the agreement, Aspen will supply products to Glenmark Pharmaceuticals Inc, which will market them under the Glenmark label.

Glenmark Pharmaceuticals Inc (GPI) is the US-based wholly owned subsidiary of Glenmark Pharmaceuticals Ltd, India.

GPI will make an undisclosed initial milestone payment to Aspen for the exclusive marketing rights to the products and the two parties will share the profits on net sales in the US market, the company said.

Glenmark expects to launch the three products over a period of three months starting from May in the retail and hospital segments.

GPI managing director and CEO Glenn Saldanha said, “It would add to the six products that we have in the US and would go a long way in strengthening our generic presence there.”

He also said the company was expecting approvals shortly for an additional 2-4 abbreviated new drug applications that it had filed. “We are targeting to close fiscal 2007 with at least 18-24 generics on the US market.”

“Glenmark does not have a substantial presence in the US. The exclusive marketing agreement will give them a visibility. Also, Glenmark’s biggest strength is its research and not marketing. The collaboration is a win-win situation for both,’’ said a pharma analyst.

This deal comes just a few days after GPI signed a supply and marketing agreement with Lehigh Valley Technologies Inc for the manufacturing and marketing of two liquid generic pharmaceutical products in the US. These products were also from the pain management therapeutic segment and have a cumulative market size of about $46 million.